LVW Advisors LLC Purchases 53 Shares of ServiceNow, Inc. (NYSE:NOW)

LVW Advisors LLC boosted its position in shares of ServiceNow, Inc. (NYSE:NOW) by 18.0% in the 1st quarter, HoldingsChannel reports. The firm owned 347 shares of the information technology services provider’s stock after buying an additional 53 shares during the period. LVW Advisors LLC’s holdings in ServiceNow were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in NOW. Algert Global LLC bought a new position in ServiceNow during the 3rd quarter valued at about $310,000. AQR Capital Management LLC increased its position in ServiceNow by 47.7% in the 3rd quarter. AQR Capital Management LLC now owns 70,167 shares of the information technology services provider’s stock valued at $39,221,000 after acquiring an additional 22,652 shares in the last quarter. Truist Financial Corp increased its position in ServiceNow by 37.2% in the 3rd quarter. Truist Financial Corp now owns 91,409 shares of the information technology services provider’s stock valued at $51,094,000 after acquiring an additional 24,795 shares in the last quarter. Advisors Asset Management Inc. increased its position in ServiceNow by 97.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,315 shares of the information technology services provider’s stock valued at $1,853,000 after acquiring an additional 1,633 shares in the last quarter. Finally, AXQ Capital LP acquired a new stake in ServiceNow in the 3rd quarter valued at about $224,000. 87.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NOW has been the subject of several research reports. StockNews.com cut shares of ServiceNow from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Wells Fargo & Company lifted their price target on shares of ServiceNow from $875.00 to $900.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Robert W. Baird lifted their price target on shares of ServiceNow from $870.00 to $885.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. KeyCorp lowered their price target on shares of ServiceNow from $1,000.00 to $950.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Finally, Morgan Stanley lifted their price target on shares of ServiceNow from $814.00 to $830.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $814.48.

Insider Transactions at ServiceNow

In other news, insider Paul John Smith sold 602 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the transaction, the insider now owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Paul John Smith sold 602 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $769.75, for a total value of $463,389.50. Following the completion of the transaction, the insider now owns 3,619 shares of the company’s stock, valued at $2,785,725.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Bedi sold 215 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $700.00, for a total transaction of $150,500.00. Following the completion of the transaction, the insider now directly owns 15,892 shares of the company’s stock, valued at approximately $11,124,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,530 shares of company stock valued at $3,997,012. 0.25% of the stock is currently owned by insiders.

ServiceNow Trading Up 1.6 %

NOW opened at $786.67 on Monday. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $815.32. The company has a 50-day simple moving average of $726.55 and a 200 day simple moving average of $741.24. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $161.27 billion, a price-to-earnings ratio of 84.14, a P/E/G ratio of 4.93 and a beta of 0.99.

ServiceNow (NYSE:NOW) last posted its quarterly earnings data on Wednesday, April 24th. The information technology services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.41. ServiceNow had a net margin of 20.34% and a return on equity of 13.59%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Analysts predict that ServiceNow, Inc. will post 6.5 EPS for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.